Assam Police Bust Multi-Crore Online Trading Scam, 38 Arrested

Indian Assam Police have arrested 38 people involved in an online trading scam of tens of millions of rupees that promised investors unrealistic returns. Chief Minister of the Assam state administration warned people against investing in such fraudulent schemes.

The scam came to light only after the arrest of two fraudsters. The two are accused of committing a financial scam and cheating investors from across the state to the tune of Rs 22,000 million. One of the accused allegedly used the ill-gotten wealth to buy expensive cars and properties and he even owns a pharmaceutical company - Percelia Pharmaceutical.

His accomplice, on the other hand, had been masquerading as a successful entrepreneur whose main role was to act as the CEO of an online trading platform, “Trader”, through which he deceived people into parting with their savings. Shockingly, the man was operating a training institute for traders, thereby teaching the art of trading to young people, whom he was allegedly concocting ways to defraud.

In further investigations into the case, the police have widened the scope of the probe to include an Assamese actress and her husband among those suspected to be involved in the case.

Chief Minister Sharma's call for caution underscores the growing alarm that such fraudulent schemes have triggered in the region. He said, "Though the temptation of fast profits could be huge, the reality is grimmer. Investors should be cautious and not fall into the trap of online trading scams."

"There is no authentic way to double or triple your overnight investment," claimed Chief Minister Sarma.